How Does Chapter 7 Bankruptcy Work?

Written by Economic Development Jobs on June 30, 2018. Posted in Contract interpretation, Judge thomas e. scott, Mediator

Bankruptcy court is where individuals or entities go when they no longer have the assets to pay off their debts, or at least cannot do so in a timely way. When it comes to businesses, there are two options for walking into bankruptcy court: Chapter 11 and Chapter 7. Chapter 7 bankruptcy is by far the more common and involves liquidating the company, while Chapter 11 is primarily a form of reorganization.

Bankruptcy Court: Who is Involved?

When a company is unable to pay back creditors and things cannot be worked out, bankruptcy court is where everything will be settled. In a Chapter 7 case, a ruling judge presides over the bankruptcy court, while a representative from the Department of Justice also attends to keep things moving. There is also another trustee appointed to oversee the business’ liquidation. The company that files in bankruptcy court is the debtor, and there can be man

How To Resolve Your Case Through Arbitration And Mediation

Written by Economic Development Jobs on June 21, 2017. Posted in Fiduciary responsibility, James f. davis, Judge thomas e. scott

Judge alan nevas

There are many reasons why arbitration and mediation services are essential to individuals, groups and businesses in today?s society. Heading straight to any type of court like the federal court system is not always necessary and rarely actually occurs for different cases. It is important to understand what exactly you may need when it comes to an arbitration service and mediation services so that you know what to expect and why it may be better for your case.

Whether you are dealing with corporate and securities law, bankruptcy issues, or environmental law, you should consider using arbitration and mediation services over heading to the court system. One of the reasons why this is beneficial is that your case may never even make it to court. Around one percent of civil cases reach the Federal cour